Agenda - Council - 07/09/1991 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I The estimated cost of construction plus overhead are shown as the estimated project cost. We have assumed that the streets in the proposed plat will be cleared and graded prior to the installation of the sanitary sewer and watermain. The following Table I shows the estimated lateral costs for the sanitary sewer, watermain, storm sewer and streets. TABLE I SANITARY SEWER, WATERMAIN, STORM SEWER AND STREETS ESTIMATED LATERAL COSTS Est. Lateral Benefit Total Est. from Est. Lateral Existing Lateral Costs Trunk Costs Sewer Water Storm Street & Trails Park $48,800 $20,70'0 $69,500 56,700 13,500 70,200 12,600 -- 12,600 92,000 -- 92,000 $10,200 $10,200 Construction Costs: Overhead 30% Total Cost: $220,300 $34,200 $254,500 .66,090 10,260 76,350 $286,390 $44,460 $330,850 METHOD OF PAYMENT AND SUMMARY OF COSTS Based on the City's current assessment ordinance, it is proposed to assess all lateral costs on a unit basis to the development of Windemere Woods. The recommended assessment period is five (5) years for residential development. The interest charged would be one and one-half percent (1.5%) greater than the current rate of interest on the bonds. In addition to the lateral costs, the proposed development will be assessed for trunk sanitary sewer costs and watermain trunk source and storage costs. The current trunk costs are $421.00 per unit for sanitary sewer and $936 per unit for watermain trunk source and storage for total of $1,357 per unit. The following Table II provides a summary of assessed costs for the trunk and lateral costs for the 22 units in Phase I based on nine percent (9%) interest and an assessment period of five years.